13.11.2012 - Sovereign wealth funds bolster Adventís fundraise
Advent International closed its seventh global buyout fund with Ä8.5 billion ($10.8 billion), an achievement in what has been a challenging time for private equity firms to raise funds following the financial downturn in 2008, sister magazine Buyouts reported earlier today. Advent launched the fundraise in March, though it had begun pre-marketing in late 2011, Managing Partner David Mussafer told Buyouts. The firm ended up turning away capital: Investors in the final close had to scale back their commitments by 50 percent or more, according to the firm. Nonetheless, Advent experienced different market dynamics from the last time it raised a fund...............................................Full Article: Source
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